OroPocket, an app that enables users to trade crypto and other real assets via on-chain synthetics, announced today that it has partnered with Onfido, an identity verification and authentication platform, for a secure and fast Identity verification for users to implement onboarding.
Onfido uses Artificial Intelligence (AI) and facial biometrics to validate identities to provide a better user experience for OpenDeFi users while reducing fraud. The integration automates user onboarding and optimizes Know Your Customer (KYC) requirements.
With the integration of Onfido’s identity verification solution, investors can now sign up for OroPocket simply by taking a photo of their government-issued identification document (ID) and a selfie. Onfido verifies the authenticity of the ID and ensures that the person presenting the identity is the rightful owner and is physically present.
“As OpenDeFi expands into new markets, they can now conduct large-scale customer verifications, and Onfido’s extensive coverage – which includes over 2,500 document types in 195 countries – will help make the OroPocket app more accessible to both Indian and global investors their platform. “
– Harvinder Singh, VP, Sales & Operations (APAC) at Onfido.
OpenDeFi, the company behind OroPocket, offers 100% asset-backed banking and fiat-on-ramps on its blockchain-based OroPocket app. Within the app, users can invest in multiple asset classes and enjoy 100% liquidity – all on the blockchain.
“This collaboration gives OpenDeFi the identity verification technology and experience it needs to maintain its industry leadership position. We have great plans and we’re excited that Onfido’s breakthrough fraud detection technology will help us achieve them. “
– Tarusha Mittal, co-founder of OpenDeFi from OroPocket